M&T Bank Co. (NYSE:MTB) Stock Position Trimmed by Speece Thorson Capital Group Inc.

Speece Thorson Capital Group Inc. decreased its position in M&T Bank Co. (NYSE:MTB - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,883 shares of the financial services provider's stock after selling 16,477 shares during the period. M&T Bank makes up approximately 3.1% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 10th biggest position. Speece Thorson Capital Group Inc. owned 0.05% of M&T Bank worth $15,771,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its position in shares of M&T Bank by 11.9% during the third quarter. Barclays PLC now owns 578,266 shares of the financial services provider's stock valued at $102,999,000 after acquiring an additional 61,375 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of M&T Bank by 80.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 13,901 shares of the financial services provider's stock worth $2,476,000 after purchasing an additional 6,205 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of M&T Bank by 45.5% in the third quarter. Franklin Resources Inc. now owns 21,481 shares of the financial services provider's stock worth $3,986,000 after purchasing an additional 6,717 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of M&T Bank during the third quarter valued at $1,834,000. Finally, Principal Financial Group Inc. boosted its position in shares of M&T Bank by 1.4% during the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider's stock valued at $35,466,000 after buying an additional 2,797 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial lowered their target price on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Robert W. Baird dropped their target price on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Piper Sandler decreased their target price on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley dropped their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, DA Davidson lowered their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $208.24.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company's stock.

M&T Bank Price Performance

NYSE MTB traded down $1.59 during trading hours on Friday, reaching $167.57. The company's stock had a trading volume of 460,186 shares, compared to its average volume of 1,116,702. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. The firm's 50-day moving average price is $174.48 and its 200-day moving average price is $190.77. The company has a market capitalization of $27.53 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The company had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the business posted $3.09 earnings per share. On average, equities research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio is presently 36.17%.

M&T Bank declared that its Board of Directors has approved a share buyback plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.